Group 1 - The report highlights a significant breakthrough in the US-EU trade negotiations, with a new agreement that includes a 15% tariff on EU goods entering the US and a commitment from the EU to invest $600 billion in the US and purchase $750 billion in energy products [2][3] - The agreement is seen as a risk release event that may help restore global asset risk appetite, although there are concerns about its long-term stability due to perceived imbalances in the agreement [3] - The report notes that the agreement could indirectly influence the ongoing US-China trade negotiations, as the US adopts a strategy of tariff adjustments and high-value procurement orders [3] Group 2 - The report suggests that the recent US-EU trade agreement may lead to a rotation in the A-share market towards consumer sectors, supported by domestic fiscal expansion and new cash subsidy policies for families with children under three years old [3] - The cash subsidy policy is expected to have a marginal stimulating effect on consumer spending, benefiting sectors such as baby products, dairy, and retail [3] - The current market environment is characterized as a "strong expectation, weak reality" phase, indicating a cautious but optimistic outlook for investment opportunities [3]

Group 1 - US stock market experienced a third consecutive day of gains, with the S&P 500 index reaching a new high not seen in at least three months, driven by optimism surrounding international trade negotiations [1] - Tesla led the technology sector's rise, with its stock increasing by over 5%, while Intel saw its largest single-day gain since April 9, rising nearly 8% [1] - The World Bank downgraded its global economic growth forecast for 2025 by 0.4 percentage points to 2.3%, citing higher tariffs and policy uncertainties as significant obstacles to the global economy [5] Group 2 - The Nasdaq Golden Dragon China Index saw mixed performance, with NIO rising over 5% and iQIYI and New Oriental both increasing by more than 2%, while Tencent Music fell by nearly 1% [2] - Circle, a stablecoin company, experienced a drop of over 8%, reversing some of its recent gains after a cumulative increase of over 270% in the previous three trading days [3] - McDonald's faced its seventh consecutive day of decline, marking the longest losing streak since 2013, while 10 out of 11 sectors in the S&P 500 index saw gains, with the energy sector performing the best [4]